News
Cyberbit Raises $30 Million Investment from Claridge Israel
June 2018 by Marc Jacob
Cyberbit Ltd. announced a US $30 million investment from Claridge Israel, to accelerate growth, and accommodate the rising demand for its Cyberbit Range product and its entire security portfolio. With this funding, Cyberbit will expand sales and marketing, primarily in North America, boost product development, and enhance customer and partner support.
Claridge Israel is a partnership between CDPQ, one of the largest institutional investors in North America with net assets of over US$230 billion, and Claridge Inc., the Stephen Bronfman Family Office. Oded Tal, Managing Partner of Claridge Israel, will join Cyberbit’s board of directors.
Cyberbit has pioneered the approach of using hyper-realistic simulation to train and assess cybersecurity experts. This approach is now widely adopted by the industry as a means to cope with the ever growing global cybersecurity skill shortage. This shortage is predicted to exceed 3.5 million job openings by 2021 and is amplified by increased workload and complex, time-sensitive threats. Over the past year alone Cyberbit launched more than 30 cyber range classes and opened dozens of cyber ranges with Managed Security Service Providers (MSSP), universities and enterprises worldwide.
In addition to the cyber range, Cyberbit offers Security Orchestration, Automation and Response (SOAR), Industrial Control Systems (ICS) security, and Endpoint Detection and Response (EDR). These products are offered either as standalone products, or jointly, providing one of the only integrated platforms in the world for detection, incident response, and simulation across the converging IT/OT/IoT attack surface. Cyberbit’s portfolio helps security operations do more, with less, by reducing overwhelming alert volumes, accelerating incident response, consolidating security technologies and seamlessly managing multi-vector IT to OT attacks.
